IHI vs. SGOV
IHI (iShares U.S. Medical Devices ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - IHI is a Health & Biotech Equities fund tracking the Dow Jones U.S. Select Medical Equipment Index, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, IHI returned -3.09%/yr vs 3.58%/yr for SGOV. At a correlation of -0.03, they often move in opposite directions. IHI charges 0.38%/yr vs 0.09%/yr for SGOV.
Performance
IHI vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, IHI achieves a -19.12% return, which is significantly lower than SGOV's 1.73% return.
IHI
- 1D
- 1.07%
- 1M
- -0.29%
- YTD
- -19.12%
- 6M
- -19.87%
- 1Y
- -18.46%
- 3Y*
- -2.75%
- 5Y*
- -3.09%
- 10Y*
- 9.29%
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.73%
- 6M
- 1.80%
- 1Y
- 3.92%
- 3Y*
- 4.69%
- 5Y*
- 3.58%
- 10Y*
- —
IHI vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IHI iShares U.S. Medical Devices ETF | -19.12% | 6.88% | 8.62% | 3.24% | -19.80% | 21.03% | 26.17% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.73% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between IHI and SGOV is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | -0.03 |
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Return for Risk
IHI vs. SGOV — Risk / Return Rank
IHI
SGOV
IHI vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Medical Devices ETF (IHI) and iShares 0-3 Month Treasury Bond ETF (SGOV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IHI | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -21.38 | ||
| Sortino ratioReturn per unit of downside risk | -275.00 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 194.05 | -193.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.71 | 395.07 | -395.78 |
| Martin ratioReturn relative to average drawdown | -1.59 | 4,426.92 | -4,428.52 |
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Drawdowns
IHI vs. SGOV - Drawdown Comparison
The maximum IHI drawdown since its inception was -49.65%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for IHI and SGOV.
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Drawdown Indicators
| IHI | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.65% | -0.03% | -49.62% |
Max Drawdown (1Y)Largest decline over 1 year | -26.11% | -0.01% | -26.10% |
Max Drawdown (3Y)Largest decline over 3 years | -26.64% | -0.01% | -26.63% |
Max Drawdown (5Y)Largest decline over 5 years | -33.12% | -0.03% | -33.09% |
Max Drawdown (10Y)Largest decline over 10 years | -33.25% | — | — |
Current DrawdownCurrent decline from peak | -23.63% | 0.00% | -23.63% |
Average DrawdownAverage peak-to-trough decline | -8.36% | -0.00% | -8.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.61% | 0.00% | +11.61% |
Volatility
IHI vs. SGOV - Volatility Comparison
iShares U.S. Medical Devices ETF (IHI) has a higher volatility of 6.93% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.04%. This indicates that IHI's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IHI | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.93% | 0.04% | +6.89% |
Volatility (6M)Calculated over the trailing 6-month period | 13.89% | 0.12% | +13.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.54% | 0.19% | +17.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.10% | 0.24% | +18.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.81% | 0.24% | +19.57% |
IHI vs. SGOV - Expense Ratio Comparison
IHI has a 0.38% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
IHI vs. SGOV - Dividend Comparison
IHI's dividend yield for the trailing twelve months is around 0.48%, less than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHI iShares U.S. Medical Devices ETF | 0.48% | 0.34% | 0.46% | 0.53% | 0.45% | 0.25% | 0.25% | 0.33% | 0.26% | 0.37% | 0.55% | 1.28% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IHI and SGOV have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IHI has higher volatility (6.93%) compared to SGOV (0.04%). In terms of maximum drawdown, IHI dropped -49.65% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.58% vs -3.09% for IHI. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SGOV has performed better with a 3.58% return vs -3.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.38% for IHI.
SGOV has the higher dividend yield at 3.85%, compared with 0.48% for IHI.
IHI is categorized as Health & Biotech Equities, while SGOV is Ultrashort Bond. IHI tracks Dow Jones U.S. Select Medical Equipment Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.38% for IHI and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.32 vs -1.06), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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